Haverford Financial Services Inc. Cuts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Haverford Financial Services Inc. trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,211 shares of the industrial products company’s stock after selling 1,603 shares during the period. Eaton comprises 3.3% of Haverford Financial Services Inc.’s portfolio, making the stock its 14th largest position. Haverford Financial Services Inc.’s holdings in Eaton were worth $10,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETN. Flagship Wealth Advisors LLC bought a new position in Eaton in the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new stake in Eaton in the fourth quarter worth approximately $30,000. Groupama Asset Managment boosted its holdings in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its position in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Finally, Morse Asset Management Inc bought a new position in Eaton in the third quarter worth approximately $33,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Eaton stock opened at $295.88 on Friday. The company has a market cap of $115.92 billion, a PE ratio of 31.14, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a fifty day moving average price of $311.30 and a two-hundred day moving average price of $331.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the company earned $2.55 EPS. Research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.41%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio is currently 43.79%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Melius Research reiterated a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research report on Wednesday, March 12th. Finally, Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $357.68.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.